Entrepreneur – Meaning, Types And The Rest Story

A very simple question for all my readers – Who is an Entrepreneur? How many of you can list down the precise meaning of the term? I might be wrong in my assumptions, but I believe Very few. It’s because one cannot define and explain it in a particular manner. Every individual defines the word as per his/her understanding and nobody can judge them on the mere basis of it.

However, the word originates from a French word ‘enterprendre’ which means to undertake a task. You can also refer to the Oxford definition for a better understanding of the word.

The journey of becoming an entrepreneur isn’t easy as people believe. Other than hard work and a lot of patience, you require other virtues too. Having these virtues do not make you successful at one go, but does ensure you are on the right pathway. A quick overview of all major virtues:

Faith in Yourself

Care and Respect for Others

Balance in Work and Life

Not to Lose Hope

You might think its easy, but remember the saying Practice leads to Perfection. Keeping the same fact in mind, refer to this article by Inc.com highlighting 7 entrepreneurial virtues to live a successful life.

Every organization follows a different principle while embarking on the journey of entrepreneurship. Check out my other article on Every Startup Beholds an Interesting Tale. It helps you understand what inspired the founders to establish their respective startups and what made them successful despite the odds. If you plan to become an entrepreneur, it is important for you to understand what makes these firms tick.

Every human being comes with a different thought process and its evident from the humongous ideas flowing around. The overall thought process and the personality of the founder contributes a lot to determine the success or the downfall of any startup. The next segment highlights different types of Entrepreneurs we observe around us.

Types of Entrepreneurs

Various surveys help us understand that there are majorly six types of entrepreneurs which gives the word SUCCESS a different meaning. The below infographic gives a detailed description of all the six types and will also help you identify as to which category suits your personality the best:

entrepreneur-types-infographic

You must have heard the saying Success doesn’t Come Cheap. You got to work hard to achieve your goals. It’s not everybody’s cup of tea to keep the perseverance and strive on a consistent basis to gain perfection. At times you would lose your concentration, peace of mind while you are on the pathway to becoming an entrepreneur. However, the freedom one gets from Entrepreneurship makes the wait worthwhile. You just need to work on the following three important factors:

How You Define Your Goals

What You Seek from your Startup

Balancing both Your Business and Personal Lifestyle

CONCLUSION

Being self-employed requires guts and a lot of patience. You just exercise caution in your decision-making. Every decision taken by you impacts your organization and determines its growth or downfall in the coming future. Check out this article by Entrepreneur.com to understand 7 Aspects No One Tells You about Being an Entrepreneur.

If you have any queries or simply want to share your Entrepreneurship story with us feel free to comment below.